Don't miss

Replay


LATEST SHOWS

FOCUS

Inside the murky business of cobalt mining in DR Congo

Read more

ENCORE!

100% Pure Parisian: Comedian Julie Collas helps locals laugh at themselves

Read more

BUSINESS DAILY

Chinese textile wholesalers open Marseille site

Read more

IN THE PRESS

Meet Annegret Kramp-Karrenbauer: Angela Merkel's 'mini-me'

Read more

IN THE PRESS

Major French student union rocked by sexual assault claims

Read more

THE INTERVIEW

Photographer Pete Souza shares his ‘portrait’ of Obama

Read more

EYE ON AFRICA

Zuma ally Atul Gupta challenges asset freeze

Read more

MEDIAWATCH

Gun control continues to trend on US social media

Read more

THE DEBATE

Trump, guns and school shootings: Can students help change gun control laws?

Read more

Business

French economy stagnates in second quarter as investment dries up

© Eric Feferberg, AFP file picture |Despite the stagnation recorded in the second quarter, Finance Minister Sapin insists France is on track to post 1 percent growth for the full year

Text by NEWS WIRES

Latest update : 2015-08-14

France's economy stagnated in the second quarter after an encouraging 0.7 percent rise in GDP in the three months before, with investment falling away, according to official statistics released Friday.

Finance Minister Michel Sapin insisted that the second biggest economy in the eurozone was still on course to post 1 percent growth over the year as a whole.

"After a very dynamic first quarter, the level of activity has held up," he said.

But the government, which has been pinning its hopes on growth to tackle the country's chronic unemployment problems, will not have been cheered by slowing growth in investment, which rose only 0.2 percent compared to 0.6 percent in the first quarter.

Consumer spending also slowed sharply, from a 0.9 percent rise in the first three months of 2015 to only 0.1 percent in the second quarter.

In one good sign, however, the contribution France's exports made to the economy rose by 0.3 percent, while imports slowed by 1.6 percent.

(AFP)

Date created : 2015-08-14

  • FRANCE

    Rising number of wealthy French fleeing abroad

    Read more

  • FRANCE

    French unemployment rate stable in June

    Read more

  • FRANCE

    French farmers blockade Lyon despite Hollande pledge

    Read more

COMMENT(S)